Warpaint to acquire cosmetics firm Retra

Colour cosmetics supplier Warpaint London has agreed to acquire Retra Holdings.

Warpaint London has initiated a placing of its ordinary shares to raise up to £21.2m to fund the deal.

The firm expects that the acquisition will complement its product portfolio, customer relationships, and geographic footprint, as well as expand its product range and target customer segments.

In addition, the transaction is intended to increase product development personnel and enhance exposure to the gifting market.

Warpaint joint chief executives Sam Bazini and Eoin Macleod said: “The acquisition will help to accelerate Warpaint’s growth both domestically and internationally.

“We look forward to welcoming the Retra team into Warpaint and combining the businesses to derive new opportunities and synergies.

“Warpaint remains on track to meet management expectations this year and we look forward to the future with confidence.”

Retra’s portfolio includes a range of colour cosmetics across brands Technic, Body Collection, and Man’s Stuff, as well as white label cosmetics sold at retailers and supermarkets such as Boots, Superdrug, Matalan, and Asda.

Last year, the firm reported a profit before tax of £2.3m on sales of £17.5m.